WP Advisors LLC Buys 50,399 Shares of NVIDIA Co. (NASDAQ:NVDA)

WP Advisors LLC lifted its position in NVIDIA Co. (NASDAQ:NVDA) by 890.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 56,061 shares of the computer hardware maker’s stock after acquiring an additional 50,399 shares during the period. NVIDIA makes up approximately 2.2% of WP Advisors LLC’s holdings, making the stock its 12th biggest holding. WP Advisors LLC’s holdings in NVIDIA were worth $6,926,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of NVDA. Hamilton Wealth LLC raised its position in NVIDIA by 0.3% during the first quarter. Hamilton Wealth LLC now owns 3,142 shares of the computer hardware maker’s stock worth $2,839,000 after acquiring an additional 9 shares in the last quarter. Brooklyn FI LLC increased its stake in shares of NVIDIA by 2.5% during the 1st quarter. Brooklyn FI LLC now owns 489 shares of the computer hardware maker’s stock worth $442,000 after purchasing an additional 12 shares during the last quarter. Curran Financial Partners LLC raised its holdings in shares of NVIDIA by 1.8% in the 1st quarter. Curran Financial Partners LLC now owns 691 shares of the computer hardware maker’s stock valued at $625,000 after purchasing an additional 12 shares during the period. Beacon Bridge Wealth Partners LLC lifted its stake in NVIDIA by 2.6% in the 1st quarter. Beacon Bridge Wealth Partners LLC now owns 473 shares of the computer hardware maker’s stock valued at $428,000 after purchasing an additional 12 shares during the last quarter. Finally, M. Kraus & Co grew its holdings in NVIDIA by 2.0% during the first quarter. M. Kraus & Co now owns 657 shares of the computer hardware maker’s stock worth $594,000 after purchasing an additional 13 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Piper Sandler restated an “overweight” rating and issued a $140.00 price objective on shares of NVIDIA in a research note on Thursday, August 29th. DA Davidson reaffirmed a “neutral” rating and set a $90.00 price target on shares of NVIDIA in a report on Thursday, August 29th. Robert W. Baird lifted their price objective on shares of NVIDIA from $120.00 to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Raymond James increased their price objective on shares of NVIDIA from $120.00 to $140.00 and gave the company a “strong-buy” rating in a research report on Thursday, August 29th. Finally, JPMorgan Chase & Co. lifted their target price on shares of NVIDIA from $115.00 to $155.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Five equities research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, NVIDIA has a consensus rating of “Moderate Buy” and a consensus target price of $142.10.

Insider Buying and Selling at NVIDIA

In other news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $122.78, for a total transaction of $14,733,600.00. Following the completion of the transaction, the chief executive officer now directly owns 79,974,995 shares in the company, valued at $9,819,329,886.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $122.78, for a total transaction of $14,733,600.00. Following the sale, the chief executive officer now owns 79,974,995 shares in the company, valued at approximately $9,819,329,886.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the completion of the transaction, the insider now owns 492,409 shares of the company’s stock, valued at $57,370,572.59. The disclosure for this sale can be found here. Insiders have sold 4,397,403 shares of company stock worth $526,762,784 over the last quarter. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Trading Up 0.4 %

Shares of NVDA stock opened at $124.04 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. NVIDIA Co. has a fifty-two week low of $39.23 and a fifty-two week high of $140.76. The company has a market cap of $3.04 trillion, a PE ratio of 72.54, a P/E/G ratio of 1.05 and a beta of 1.67. The stock’s fifty day moving average price is $115.75 and its two-hundred day moving average price is $107.76.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. The firm had revenue of $30.04 billion for the quarter, compared to analysts’ expectations of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The business’s revenue for the quarter was up 122.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.25 earnings per share. Equities analysts predict that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

NVIDIA Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 12th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date is Thursday, September 12th. NVIDIA’s payout ratio is 2.34%.

NVIDIA declared that its Board of Directors has initiated a stock buyback plan on Wednesday, August 28th that allows the company to repurchase $50.00 billion in shares. This repurchase authorization allows the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

About NVIDIA

NVIDIA Corporation provides graphics and compute and networking solutions in the United States, Taiwan, China, Hong Kong, and internationally. The Graphics segment offers GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; virtual GPU or vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building and operating metaverse and 3D internet applications.